EIOPA · 144
144
- Regulation
- Guidelines on submission of information to NCAs (Preparatory phase)
- Article
- 35
- Submitted
- 2015-03-13
- Answered
- 2019-10-31
Question
According to the Guideline G.22. in the Technical Specification, we understand that the RM for the group is the sum of the rm of all related subsidiary by applying the related proportional share.And when we implement the report G14-S.35.01.g, it need report 'Amount of gross TP (net of IGT) ' which should eliminate the IGT. Could you confirm that the RM to be reported here should thus delete the IGT.
Answer
The consolidated risk margin of technical provisions on the basis of the consolidated data shall be equal to the sum of: the risk margin of the participating insurance or reinsurance undertaking and the proportional share, as referred to in Article 221(1)(a) of Directive 2009/138/EC, of the risk margin of the related insurance or reinsurance undertakings and third-country insurance or reinsurance undertakings referred to in Article 335(1)(a) and (c) of Regulation 2015/35 (delegated act). Therefore the risk margin should be considered as gross of IGT in both columns of the template.
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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